Range Resources Corp. (RRC) Forecasted to Post Q3 2019 Earnings of $0.32 Per Share

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Range Resources Corp. (NYSE:RRC) – Investment analysts at Piper Jaffray Companies decreased their Q3 2019 earnings per share estimates for shares of Range Resources in a research note issued to investors on Thursday, November 15th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas exploration company will earn $0.32 per share for the quarter, down from their previous estimate of $0.44. Piper Jaffray Companies has a “Buy” rating and a $29.00 price target on the stock. Piper Jaffray Companies also issued estimates for Range Resources’ Q4 2019 earnings at $0.40 EPS, Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.49 EPS and FY2020 earnings at $2.14 EPS.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley set a $17.00 target price on Range Resources and gave the stock a “sell” rating in a research report on Monday, October 29th. Guggenheim reiterated a “buy” rating and set a $22.00 target price on shares of Range Resources in a research report on Wednesday, October 24th. TD Securities boosted their target price on Range Resources from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, October 24th. B. Riley boosted their target price on Range Resources from $22.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, October 18th. Finally, Macquarie set a $18.00 target price on Range Resources and gave the stock a “hold” rating in a research report on Wednesday, September 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.16.

NYSE RRC opened at $16.88 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.53 and a current ratio of 0.56. Range Resources has a 12-month low of $11.93 and a 12-month high of $18.93. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 29.10, a price-to-earnings-growth ratio of 1.20 and a beta of 0.58.

Range Resources (NYSE:RRC) last released its earnings results on Tuesday, October 23rd. The oil and gas exploration company reported $0.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Range Resources had a return on equity of 4.85% and a net margin of 8.28%. The company had revenue of $811.20 million for the quarter, compared to analysts’ expectations of $747.06 million. During the same quarter in the previous year, the firm posted $0.05 EPS. The firm’s quarterly revenue was up 68.2% on a year-over-year basis.

Several institutional investors and hedge funds have recently added to or reduced their stakes in RRC. Soros Fund Management LLC purchased a new stake in Range Resources in the 2nd quarter valued at approximately $2,928,000. ANTIPODES PARTNERS Ltd lifted its stake in Range Resources by 54.6% in the 2nd quarter. ANTIPODES PARTNERS Ltd now owns 5,830,315 shares of the oil and gas exploration company’s stock valued at $97,541,000 after buying an additional 2,058,057 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in Range Resources by 84.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 64,980 shares of the oil and gas exploration company’s stock valued at $1,087,000 after buying an additional 29,676 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Range Resources by 11.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 76,671 shares of the oil and gas exploration company’s stock valued at $1,282,000 after buying an additional 8,054 shares in the last quarter. Finally, Putnam Investments LLC purchased a new stake in Range Resources in the 2nd quarter valued at approximately $776,000.

About Range Resources

Range Resources Corporation operates as an independent natural gas, natural gas liquids (NGLs), and oil company. It engages in the exploration, development, and acquisition of natural gas and oil properties. It holds interests in developed and undeveloped natural gas and oil leases in the Appalachian and North Louisiana regions of the United States.

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Earnings History and Estimates for Range Resources (NYSE:RRC)

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